burdukovahycel.blogspot.com
The Rochester-based health provider and research institution’s fund alreadyh has invested infour companies, closinf its first deal in the thirdf quarter of last year. Its most recent investmentg wasin Shoreview-based medical-device company Torax Medical Inc. The fund, dubbedc Mayo Medical Ventures (MMV) Fund II, is a follow-on to an MMV I, whic launched in 1998 and invested in 26 The new fund investsbetween $250,000 and $500,000 in companies developing technology first invented at the Mayo Clinic, thougnh it will provide up to $2 million to the same firm throughj several rounds of financing. The fund is primarilt focused on investments in firms developinbgMayo technologies.
The clinicd had previously invested in companies not linked to and at one point consideredc raisinga $100 million fund that also would do outside deals. It laterr abandoned that effort.
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